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PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

EncounterCare announces proposed new OTC rule

January 7, 2020 GMT

PALM BEACH GARDENS, Fla., Jan. 07, 2020 (GLOBE NEWSWIRE) -- EncounterCare Solutions (ECSL) Pink Sheets. EncounterCare Solutions is pleased to announce that the OTC has recently published comments to SEC’s recent proposal to Rule 151-02 which governs public quoting of securities on OTC QX, OTC QB, and pink numbers. The rule proposal would require among other things that annual information about a company be publicly available in order for the company to be quoted on the OTC markets. The SEC’s proposal recognizes the OTC market group disclosure standards and would permit broker-dealers to rely on annual information designated to submit quotations in these securities and bring these companies to the public market. ESCL has been a currently reporting company for approximately 10 years. According to the OTC, this also would have significant value to other applications like the important issues of Rule 144 and the ability to deposit shares.

Ronald Mills, President of ECSL states that he is excited about this new proposed action. He further added that Encountercare Solutions is very supportive of this new rule and encourages its adoption. He believes this will allow small but legitimate companies to better meet the needs of their stockholders and give those stockholders a much easier path of monetizing their investments by depositing their stock and executing their trades in a more conventional stock portfolio transaction.

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Safe Harbor:

Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases “will likely result,” “expected to,” “will continue,” “anticipated,” “estimate,” “projected,” “intends,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed within this press release.

Contact: Bill Robertson Ph. No. 604 837 3835